U.S. stocks rally; Dow up triple-digits on GM strength

NEW YORK (MarketWatch) - U.S. stocks rallied Tuesday with General Motors Corp. pacing blue chips to triple-digit gains after the struggling automaker announced efforts to generate $2.5 billion in annual cost savings by 2008. See full story.

GM to slash 25,000 jobs by 2008

SAN FRANCISCO (MarketWatch) - General Motors, hit by falling sales, soaring costs and recent credit downgrades, said Tuesday it will cut at least 25,000 jobs in the U.S. by 2008 to generate $2.5 billion in annual savings. See full story.

Greenspan: No easy answers for long-term rate drop

WASHINGTON (MarketWatch) -- The decline of long-term interest rates over the past year despite the Fed's steady tightening remains a conundrum, said Federal Reserve Board Chairman Alan Greenspan. See full story.

PBoC chief offers no clues that yuan shift is near

TOKYO (MarketWatch) - China's central bank chief and U.S. financial and monetary officials have apparently reached the same macroeconomic diagnosis, but are calling for different cures. See full story.

IMF looks to euro-zone recovery

LONDON (MarketWatch) -- The International Monetary Fund believes the euro zone will regain momentum in the second half of the year, but voiced support for a cut in interest rates if the situation does not improve. See full story.

ARROYO GRANDE, Calif. (MarketWatch) -- Remember the 1976 movie, "Network;" the over-the-top warning of the anchorman screaming at people to open their windows and shout: "I'm mad as hell, and I'm not going to take this anymore!" See full story.

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